A neglected Portugal hotel – Hotel Golfinho – used to be a popular tourist spot in Lagos. The property is located on prime property facing Praia Dona Ana Beach.

The hotel was abandoned years ago and went up for sale, however, the building was defaced and quickly became a distant memory of tourist dreams gone by.

The IR Group announced that it is currently negotiating with hotel management companies to secure partners to have the 269-room hotel refurbished into apartments, which will be sold as vacation timeshares. The property has been renamed the Golfino, the Lagos Beach Resort and SPA. Refurbishment is scheduled to begin sometime this year with a goal to have the work completed by 2020.

The reborn property is to include a restaurant, health club, spa, indoor and outdoor pool, a Zen garden, a conference room, a kids’ club, and a car park. Praia Dona Ana Beach will need work done as well, because a sea wall has ruined the beach that was once voted the best beach in the world.

Investors into the timeshares will be able to enjoy staying at the apartment for 2 weeks during the year and are guaranteed a 7 percent return from holiday rentals during the rest of the year. The company is also promising it will buy back the apartment at the price it was originally paid for after 5 years.